Super Bowl Becoming a Buyer's Market
PORTLAND, Ore. (TheStreet) -- As with any other commodity, tickets to Super Bowl XLVIII require a working knowledge of their market's supply, demand and timing.
"I know a guy" isn't going to do you a whole lot of good unless that guy you know happens to occupy a prime corner office.
As the rest of the country spent the days after the conference championships arguing the merits of Seattle Seahawks cornerback Richard Sherman's postgame interview and the intentions of Denver Broncos receiver Wes Welker after his old coach accused him of purposely injuring a player, Super Bowl tickets have been making their way through the secondary market. The game is sold out, but Reuters spotted more than 12,000 tickets on resale sites such as eBay's Stubhub as of Sunday.
At the time, the average resale price of those tickets was $3,935, as reported by Forbes. It dropped to $3,721 by Monday and to $3,676 by Tuesday. That's still well above the face value of $500 to $2,600, and no ticket has sold for less than $2,000 yet. It would also be the highest average ticket price in Super Bowl history if it held. The current titleholder is the average $3,649 paid by fans who wanted to see the Pittsburgh Steelers and Green Bay Packers square off in Super Bowl XLV.
That potential has a bunch of holders and brokers feeling lucky, with the average asking price quoted by TiqIQ -- which tracks various ticket resale sites -- increasing from $4,015 on Monday to $4,525 on Wednesday. Consensus is that they should sell while they can. A report from NorthJersey.com found that the number of tickets on the market increased by nearly 3,000 on Monday afternoon alone. Super Bowl host site MetLife Stadium in East Rutherford, N.J., holds 82,000 fans, which gives the Seahawks and Broncos faithful a few thousand reasons to be patient.
Then there's the simple fact that it plays out this way every year. Last year, for example, fans from San Francisco and Baltimore bought tickets for an average of $3,445 immediately after the conference championship games, but saw the average price drop to $1,551 by game day. A spokesman from TiqIQ suggested earlier this week that a $1,500 price for upper-level seats by next week should be reasonable.